Cloud BI provider Birst has secured $38 million in funding.
The $38 million investment was led by Sequoia Capital. All other existing investors participated in the round and were joined by new investors including Northgate Capital.
The Cloud BI provider will use the new funding to expand internationally, grow sales and marketing and invest in new product capabilities.
Birst claims that it is less costly and more agile than legacy on-premise BI solutions, but also fully functional, unlike Data Discovery products.
In addition to a growing list of Fortune 500 and midmarket customers, Birst is expanding into new markets in Europe, Asia and the Middle East.
Select new customers include American Express, Build.com, Cisco, CSC, InterContinental Hotels Group, Ingram Medical, Johnson Controls, Leapfrog, NCC Media, New South Wales Government, Nippon Life, Reckitt Benckiser (RB), Samsung, Schneider Electric, Sunny Delight, and Virgin HealthMiles.
Additionally, Birst continues to expand its indirect embedded business, adding organizations such as FICO, Navis, Omnicell, OpenText, Trimble and Valen to a long list of leading software providers who rely on Birst to power the analytics within their solutions.
“The demand for BI continues to grow and the shift to the Cloud has become unstoppable,” said Brad Peters, CEO and Co-founder of Birst.
Birst has added a dozen new additional solution provider partnerships, including firms such as Acumen, Analytics8, Audaxium, CorSource, Eagle Creek, The Pedowitz Group, Projectline, TeleTech and 3Coast. Moreover, new strategic alliances were formed with Amazon, NetSuite, and Marketo.